Excalibur Insurance

Don’t Get Caught Between Two Policies

November 16, 2017


When there are two insurance policies at place on a single claim, things get complicated quickly, and then tend to get resolved slowly. Condo insurance claims often follow this pattern because for anything other than personal property damage, at least 2 policies will be involved, your personal insurance, and the Condo Corporation Policy.

Similarly, if liability for your damage is the responsibility of your neighbour then there will be 3 policies all trying to decide what will and won’t get paid out by whom. This can take month and months of insurers sitting around a table arguing back and forth while your condo is still ruined and you’ve got nothing for it.

Having Living Expense Coverage – Personal Condo Insurance Policy can take care of you during that time.

For example, in the event of a fire in your neighbour’s condo, there may be smoke, structural, or fire damage to your condo as well making it uninhabitable. With total loss and living expenses insured under your unit coverage you will be able to move immediately to a comparable apartment paid for under your insurance while your insurer figured out how to get you the compensation you deserve for your property and your condo is rebuilt.

To explore your Living Expense Coverage options give us a call at 1 (888) 298 7343.